Press Releases
Karmaloop Selects MyBuys to Increase Revenue With 1:1 Marketing
Recommendation Driven Revenue Skyrockets Over 200% With MyBuys 1:1 Personalized Product Recommendation Service
Redwood City, CA--October 15, 2007 - MyBuys™, a leading one-to-one personalized product recommendation service, today announced that Karmaloop, an urban online clothing retailer, has implemented the MyBuys service to optimize marketing directed to its customers. Karmaloop is using the MyBuys service to deliver personalized recommendations while consumers shop on their website as well as in follow up messages in email and RSS feeds. Since deploying the MyBuys service, Karmaloop has experienced a 220% increase in revenue per consumer interaction.
"We wanted to keep our customers aware of the latest products and promotions, but also wanted to ensure relevancy in all our communications," said Anand Shah, chief of operations, Karmaloop. "MyBuys provides the unique capability to target our shoppers leveraging the three key sources of consumer insight -- prior purchases, explicitly stated preferences and current browsing behavior. As a result, we can deliver content that is truly relevant to each individual consumer to encourage additional purchases."
Before working with MyBuys, Karmaloop used traditional mass communication approaches and delivered the same marketing messages and recommendations to all their shoppers. Because MyBuys delivers personalized product recommendations on the web, through email and on RSS feeds, Karmaloop can now target consistent cross selling initiatives to each shopper across multiple channels. Only MyBuys delivers products a consumer is interested in -- while they're browsing, in search results, during check out or in follow-up emails. As a result, the MyBuys multiple channel approach drives more repeat visits, increased conversions, and larger order sizes.
"Consumers crave relevance, whether it is through email, in RSS feeds or on retail websites. And when it is delivered, they see it as great customer service," said Paul Rosenblum, vice president of marketing for MyBuys. "We are delighted to help Karmaloop ensure great customer service by delivering the most relevant marketing communications to each one of its customers."
About Karmaloop
Karmaloop, established in 1999, offers you the largest selection of urban, rave, and boutique clothing labels from around the world. Karmaloop is created and run by people who are intimately involved with or just love electronic music, resulting in a store that is authentic and in-tune with its customers.
About MyBuys
MyBuys is a 1:1 personalized product recommendation service for online retailers. We build deep profiles of consumer preferences and apply advanced algorithms combined with optimization techniques to generate truly personalized recommendations for each consumer. MyBuys' consumer-based, multi-channel approach outperforms the more common product-centric, Web site-only approach. By communicating on the retailer's Web site as well as in follow up emails and RSS feeds, our retailers realize more repeat visits, increased conversions, and larger order sizes. MyBuys' pay-for-performance model yields immediate results without any upfront costs, and clients report revenues at 300 percent the rate of traditional marketing programs. Our clients include Lancôme, RitzCamera.com, and urban street wear leader Karmaloop. Based in Redwood City, California, MyBuys is privately held.
Media Inquiries
Emily Borders
Borders + Gratehouse
415.963.4174
emily@bordersgratehouse.com